The UK is one of the most internet-based economies in the world according to researchers at the Boston Consulting Group (BCG).
Worth £121 billion in 2010, it contributes to 8.3% of the UK economy, growing at a faster rate than other countries.
The UK also carries out far more retail online, reports the BBC.
Some 13.5% of all purchases were done over the internet in 2010, according to the study, and this is projected to rise to 23% by 2016.
Researchers predict it will continue to expand at a rate of 11% per year for the next four years, reaching a total value of £221bn by 2016.
That compares with projected growth rates of 5.4% in the US and 6.9% in China.
It’s become such an important part of life that a quarter of those surveyed said they would consider giving up sex for a year in order to maintain their broadband connection, while 65% would give up alcohol, 76% chocolate and 78% coffee.
Monday, March 19, 2012
Established by the famed Sarkies Brothers in 1885, the Eastern & Oriental (E&O) Hotel in Penang is the only hotel in the heart of the George Town UNESCO World Heritage Site that possesses prime sea frontage. Today, the luxurious 228 all-suite hotel stands as the grand dame of heritage hotels, its distinctive classic elegance and grace of service enhanced with time.
For more information, visit www.eohotels.com